Flutter Entertainment 1Q Revenue Rose, Driven by Online-Player Growth

   By Adria Calatayud 
 

Flutter Entertainment PLC said Thursday that first-quarter revenue climbed as it continued to add online players, with online revenue in the U.S. more than doubling.

The FTSE 100 gambling group said it expects an acceleration in sports growth in the second quarter, due the effect of the coronavirus pandemic in the comparable period of 2020, and more challenging year-earlier comparative figures in gambling products.

The owner of FanDuel and Paddy Power said total revenue for the first three months of the year was 1.49 billion pounds ($2.07 billion) compared with GBP1.13 billion for the same period last year. Online revenue rose 42% at constant currency to GBP1.47 billion.

Average monthly players increased by 36% to 7.7 million, including more than 1.6 million in the U.S., Flutter said.

"We are continuing to consider our options with respect to a possible U.S. listing of a small shareholding of FanDuel Group. No decision has been made at this time and we will update the market as appropriate," Flutter Chief Executive Peter Jackson said.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

April 29, 2021 02:35 ET (06:35 GMT)

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